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Serb cbank cuts 2012 GDP forecast to -1.5 pct from -0.5 pct

BELGRADE, Oct 10 (Reuters) - The Serbian economy willcontract by 1.5 percent in 2012 before bouncing back with growthof around 3 percent in 2013, central bank vice governor VeselinPjescic said on Wednesday.

"We have revised the GDP projection for 2012 from minus 0.5to minus 1.5 percent ... the bigger drop ...will be mainlydriven by a very poor agricultural season and long and intensivedrought," he told a news conference.

"In 2013 we expect a GDP increase of three percent that willbe driven by net exports and investments to a lesser extent."

(Reporting by Aleksandar Vasovic; Editing by John Stonestreet)

((aleksandar.vasovic@thomsonreuters.com)(+381113044930))

Keywords: SERBIA CBANK/

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